Automotive Segment to Dominate MEA Polypropylene Compounds Market during 2020–2028       

According to a new market research study on “MEA Polypropylene Compounds Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and End User” is expected to reach US$ 1,490.24 million by 2028 from 1,142.78 US$ million in 2021. The market is estimated to grow at a CAGR of 3.9% from 2021 to 2028. The report provides trends prevailing in the MEA polypropylene compounds market along with the drivers and restraints pertaining to the market growth. Upcoming of eco-friendly polypropylene compounds is the major factor driving the growth of the MEA polypropylene compounds market. However, issues associated with and constantly changing raw material prices negative impact of COVID-19 and fluctuations in raw material prices hinders the growth of the MEA polypropylene compounds market.  

MEA polypropylene compounds market is segmented into type, end user and country. Based on type, the MEA polypropylene compounds market is segmented into mineral filled PP compounds, compounded TPO, compounded TPV, glass reinforced, and others. The mineral filled PP compounds segment held the largest share of the market in 2020. Based on end user, the MEA polypropylene compounds market is divided into automotive, electricals and electronics, packaging, building and construction, textiles, and others. The electricals and electronics segment held the largest share of the polypropylene compounds market in 2020. Based on country, the MEA polypropylene compounds market is segmented into Saudi Arabia, South Africa, UAE, and rest of the MEA. Rest of the MEA held the largest market share in 2020.

In the MEA, South Africa has reported high COVID-19 cases and deaths. The pandemic has had a severe impact on the MEA economy, which has led to a decline in oil production, tourism, and remittances. The MEA region comprises many growing economies that are prospective markets for polypropylene compounds vendors. The pandemic has significantly slowed down the growth of the polypropylene compounds market in the region due to the negative impact on the growth of industries such as construction. The COVID-19 workforce reductions have affected many companies’ ability to maintain efficiency in production. The construction industry in the region is facing challenges in the form of delays in raw material, scarcity of projects, and new restrictions on the operation of laborers at construction sites. In the UAE, the pandemic has led to the disruption of various construction activities. However, the demand for polypropylene compounds in the region is likely to grow with the roll-out of vaccination plans and consequent economic recovery. Various construction activities are expected to return to normal, thereby fueling the polypropylene compounds market growth.

Borealis AG; Exxon Mobil Corporation; LyondellBasell Industries Holdings B.V.; SABIC; Sumitomo Chemical Co., Ltd; Total; and Trinseo are among the leading companies in the MEA polypropylene compounds market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, PACCOR, a MEA player in the packaging industry, collaborated with Total. PACCOR can now produce containers incorporating post-consumer PP using Total Circular compounds, including 37 percent of recycled PP from households’ waste.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com